According to the CM, the waiver will help all debt-ridden farmers and small and marginal ones entirely. He also said that the loan waiver will put a burden on the state treasury.

PTI, Mumbai [ Updated: June 24, 2017 18:52 IST ]

Maha Chief Minister Devendra Fadnavis

The BJP-led Maharashtra government today announced a major farm loan waiver scheme that will see debt of up to Rs 1.5 lakh per farmer being written off. The scheme, announced by Chief Minister Devendra Fadnavis at a press meet here, involves Rs 34,000 crore of relief.

Named after Maratha warrior king Shivaji Maharaj, the programme will benefit 89 lakh farmers and make 40 lakh agriculturists debt-free, Fadnavis said.

Farmers in many parts of Maharashtra were on a warpath early this month, which disrupted supply of vegetables and other essentials to cities, including Mumbai. They were demanding a loan waiver, which was backed by all political parties. The stir was called off after the government gave them a firm assurance on bringing in a comprehensive scheme to help the debt-pressed cultivators.